The Regional Greenhouse Gas Initiative. Over its 9 years of existence, the 9-member RGGI initiative has invested $2.8 billion in revenue in programs that support energy efficiency, renewable energy and jobs training. The RGGI system is meant as a model for other states and countries to encourage carbon cuts by requiring industries like power plants to acquire tradable permits to cover their emissions. link While cutting emissions, the RGGI states have also created $1.4 billion in economic benefits across the 9 member states by investing proceeds from the cap-and-trade program. link
New Jersey and Virginia are seeking to join the RGGI. More on cap and trade on this page